MBE Equity Multiplier Project

Funding Agency:
Department of Commerce

This notice requests applications for programs aligned with the Minority Business Development Agency’s (MBDA) strategic plans and mission goals to service minority business enterprises (MBEs). This notice also provides the public with information and guidelines on how MBDA will select proposals and administer discretionary Federal assistance under this Broad Agency Announcement (BAA).

The Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, will provide Federal assistance to support innovative projects seeking to promote and ensure the growth of minority enterprises. The MBDA Minority Business Enterprise (MBE) Equity Multiplier Project will facilitate technical assistance to MBEs related to accessing capital. In accordance with Executive Order 11625 and 15 U.S.C. § 1512, MBDA is soliciting competitive applications from eligible organizations for the operation of MBDA MBE Equity Multiplier Projects as described in this Broad Agency Announcement (BAA). MBDA anticipates awarding approximately one (1) individual cooperative agreement pursuant to this BAA.

The Minority Business Development Agency (MBDA) provides Federal assistance in support of innovative projects that promote and seek to resolve the challenges faced by minority enterprises. The funds to be awarded by this program are not congressionally directed funds or designated for existing funded awards. In the Fiscal Year 2021 appropriations bill, Congress authorized MBDA to foster, promote, and develop minority business enterprise, through grants, contracts, and other agreements with public or private organizations. See Consolidated Appropriations Act of 2021, Pub. L. No. 116-260 (December 27, 2020). MBDA is authorized pursuant to Executive Order 11625 to provide financial assistance to public and private organizations so that they may render technical and management assistance to minority business enterprises and defray all or part of the costs of pilot or demonstration projects conducted by public or private agencies or organizations that are designed to overcome the special challenges of minority business enterprises.

Deadline: June 30, 2021

Agency Website

Eligibility Requirements

Eligible applicants include: For-profit entities (including but not limited to soleproprietorships, partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, commercial organizations, state and local government entities, Tribal governmental entities, and quasi-government entities.

Amount Description

MBDA expects to expend approximately $300,000 in fiscal year (FY) 2021 funds for one (1) financial assistance award under this BAA. MBDA anticipates that up to $300,000 will be available in FY 2022 to support continuation funding for this project. The funding amounts referenced in this NOFO are subject to the availability of appropriated funds. Publication of this BAA does not obligate the U.S. Department of Commerce or MBDA to award any specific cooperative agreement or to obligate all or any part of available funds.

Funding Type

Grant

Eligibility

Faculty

Category

Community Outreach and Engagement
Social Sciences

External Deadline

June 30, 2021